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Why is bitcoin surging? — Here are 4 possible explanations

From marketwatch.com

If you haven’t heard, bitcoin is back. The digital currency on Thursday booked its eighth winning session in the past 10 and is on track to log four successive winning months — this after recording six losing months in a row, an unflattering record it had never previously achieved. The bitcoin BTCUSD, +4.83% rally is nearing 100% off its December 2018 low at $3,200, and year-to-date the cryptocurrency has added 70%. So what’s behind the rally bitcoin? Here are four potential answers: Technically driven One thing the bitcoin rally has done is bust through some closely watched technical levels. Whether it’s the ... (full story)

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  • Category: Technical Analysis